The cost to transport oil on supertankers soared on Thursday as major producers scrambled to secure vessels to ship more crude in a bid to regain market share and buyers took advantage of plunging oil prices.Freight charges to ship oil in very large crude carriers (VLCCs) from the Middle East, which is home to the largest OPEC producers, to China, the world's top crude oil importer
French shipping group CMA CGM said its operations in China were returning to normal after the coronavirus outbreak crippled traffic last month, forecasting the health emergency would have a limited impact on its results this year.CMA CGM, the world's fourth-largest container shipping firm
Italian shipbuilder Fincantieri said it has presented Scarlet Lady, the first of four new cruise ships it is building for new cruise ship operator Virgin Voyages, part of Richard Branson’s Virgin Group.The 110,00-gross-ton Scarlet Lady, constructed at the builder's shipyard in Genoa Sestri Ponente, is 278 meters long and 38 meters wide.
Pirates attacked an Italy-flagged offshore supply vessel in the southern Gulf of Mexico, injuring two crew members, the Mexican Navy said on Tuesday, in the latest outbreak of robbery and piracy to hit oil platforms and infrastructure in the area.One of the crew members of the vessel, Remas, received a bullet wound, and the other suffered a concussion
Army veteran-turned-Royal Caribbean Cruise Line founder Edwin W. Stephan passed away on Friday at 87 years old."We at Royal Caribbean mourn his loss and extend our deepest sympathies to the Stephan family," said a statement from the global cruise company said.In 1969 Stephan founded the Royal Caribbean Cruise Line, and his contributions helped create the modern cruise industry we know today.
ExxonMobil Asia Pacific has signed a two-year time charter agreement with Singapore-based Sinanju Tankers Holdings Pte Ltd to lease Singapore's first liquefied natural gas (LNG) powered bunker tanker, Sinanju said in an statement on Friday.The 7,990 deadweight tonnage (dwt) newbuild will be the first LNG bunker tanker for Singapore and Sinanju and will deliver ExxonMobil's new Engineered Marine
The U.S. Navy will commission its newest Arleigh Burke-class guided missile destroyer -- arguably the most successful shipbuilding series in naval history -- the future USS Paul Ignatius (DDG 117), during a ceremony July 27 at Port Everglades in Fort Lauderdale, FL.The ship is named in honor of Paul Robert Ignatius, who served in the U.S. Navy during World War II, and later during the Lyndon B.
Operations to recover oil from a World War II-era shipwreck are nearing completion after commencing on May 11, 2019 off the coast of Long Island, N.Y., the U.S. Coast Guard said on Thursday.The sunken vessel, Coimbra, was a supply ship owned by Great Britain that was torpedoed by a German U-boat off the coast of Long Island during World War II.
Norway will seek to open two areas for the construction of floating offshore wind parks, which combined could hold a turbine capacity of up to 3.5 gigawatts (GW), the Norwegian oil and energy ministry said.Norway has recently been seeking to develop wind power, both onshore and offshore.
"With the conversion of SAJIR, we are the first shipping company worldwide to convert a container vessel of this size to natural gas propulsion." Richard von Berlepsch, Managing Director Fleet Management at Hapag-LloydIn its more than 170 years of existence, the Hamburg-based Hapag Lloyd has used all kinds of solid and liquid fuels to generate energy for the propulsion of its ships.
The international law firm Watson Farley & Williams (WFW) advised Bremen-based Breakbulk shipping line Zeaborn Group (ZEABORN) on its acquisition of Claus-Peter Offen Tankschiffreederei (CPO Tankers).ZEABORN acquired CPO Tankschiffreederei from the Offen Group, which specialises in the management of oil and product tankers.
Data sharing and better understanding of how marine life interacts with manmade structures is the target for the next phase of the Insite program.What to do with offshore structures is a sticky problem for oil companies, regulators and policy makers alike, as many structures are starting to cease production in the North Sea, where some fields have been producing oil and gas since the early 1970s.